Canadian Underwriter

Keyword
UBI

News InsuranceLegislation / RegulationTechnology

How Intact is changing usage-based auto insurance in one province

October 21, 2019 by Greg Meckbach

Intact Insurance is making some key changes to its usage-based insurance (UBI) product for motorists in Nova Scotia. Essentially, the company is requiring continual monitoring of an insured’s driving behaviour rather than having the same discount apply until the end

News InsuranceMergers and AqcuisitionsProductsTechnology

Allstate Canada expands UBI program Drivewise into Nova Scotia after “great success” in Alberta and Ontario

August 15, 2017 by Canadian Underwriter

The Allstate Insurance Company of Canada announced on Monday that it is expanding its usage-based insurance (UBI) program Drivewise in Nova Scotia “after experiencing great success in the provinces of Alberta and Ontario.” Drivewise rewards those who exhibit safe driving

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

U.S. consumers embracing connected cars and usage-based auto insurance: Willis Towers Watson survey

June 7, 2017 by Canadian Underwriter

More than half (55%) of drivers in the United States who participated in a usage-based insurance (UBI) survey from Willis Towers Watson (WTW) have reported that they are “likely to buy a new or pre-owned vehicle equipped with new technology

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Global market for usage-based insurance grew by 32% in 2016 to 14 million policies: PTOLEMUS

May 18, 2017 by Canadian Underwriter

The global market for usage-based insurance (UBI) insurance grew by 32% in 2016 to 14 million policies, according to PTOLEMUS Consulting Group’s UBI Quarterly Dashboard, released on Thursday. The dashboard is a 100-page quarterly quantitative and business intelligence report surveying

News CatastrophesInsuranceMarkets / CoveragesTechnology

Global IoT insurance market to reach nearly US$43 billion by 2022: study

February 6, 2017 by Canadian Underwriter

The global Internet of Things (IoT) insurance market is estimated to grow dramatically at a compound annual growth rate (CAGR) of 65.89% to reach US$42.76 billion by 2022 from 2016, according to a new report from Research and Markets. The

News InsuranceMergers and AqcuisitionsTechnology

LexisNexis Risk Solutions brings advanced analytics to U.S. telematics programs

January 24, 2017 by Canadian Underwriter

LexisNexis Risk Solutions has advanced its proprietary technology for insurance telematics programs in the U.S. to ensure the policyholder and driver are the same, contributing to a true picture of driver behaviour and improving consumer experience. “Up until now, U.S.

News InsuranceMergers and AqcuisitionsTechnology

Global UBI market to reach US$123 billion by 2022, upsurge in demand expected from Canada and U.S.: report

November 23, 2016 by Canadian Underwriter

The global usage-based insurance (UBI) market is expected to garner US$123 billion by 2022, growing at a compound annual growth rate of 36.4% from 2016 to 2022, according to a new report from Allied Market Research (AMR). According to the

News InsuranceMergers and AqcuisitionsTechnology

Octo North America releases new suite of products for connected cars

October 17, 2016 by Canadian Underwriter

Octo North America announced on Monday that it has released a suite of new telematics products for connected cars. Octo Telematics, a London, United Kingdom-based global provider of telematics and data analytics solutions for the auto insurance industry, said in

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Gap exists between opportunity, willingness to take part in usage-based insurance programs in U.S.: LexisNexis

August 25, 2016 by Canadian Underwriter

There is an apparent gap between polled U.S. drivers who are open to taking part in usage-based insurance (UBI) and those who are provided the opportunity to do so, suggest survey results released today by LexisNexis Risk Solutions. That disconnect

News InsuranceMarkets / CoveragesTechnology

U.S. telematics, UBI face market limits, value-added services may be key to growth: Novarica

July 13, 2016 by Canadian Underwriter

A focus on services-based programs, and not discounts, will be a crucial differentiator for telematics and usage-based insurance (UBI) in the United States as insurers look to increase customer adoption and market growth, research and advisory firm Novarica said in

News InsuranceMergers and AqcuisitionsTechnology

Insurance telematics policies in force in North America expected to grow from 6.3 million in Q4 2015 to 42.1 million in 2020: report

June 21, 2016 by Canadian Underwriter

The number of insurance telematics policies in force in North America is expected to grow at a compound annual growth rate (CAGR) of 45.8% from 6.3 million in the fourth quarter of 2015 to 42.1 million in 2020, according to

News InsuranceMergers and AqcuisitionsTechnology

Pembridge Insurance Company launches first telematics program through broker channel in Alberta

May 16, 2016 by Canadian Underwriter

Markham, Ont.-based Pembridge Insurance Company announced on Monday that they have launched My_BRIDGE, what they are calling the first telematics program offered through the broker channel in Alberta. Pembridge said in a press release that the usage-based insurance (UBI) offering